Mortice appoints Pallavi Bakhru and Richard Gubbins to its Board as Non-Executive Directors

– SINGAPORE, Singapore – Mortice Limited (AIM: MORT), the AIM quoted security and facilities management company, announces the appointment of Pallavi Bakhru and Richard Gubbins as Non-Executive Directors with immediate effect. At the same time Rakesh Aggarwal has stood down from his position as Non-Executive Director with immediate effect.

Mrs Pallavi Bakhru is currently employed as Group Head Taxation at Vedanta Limited, the largest diversified natural resources company in India. Prior to this, Pallavi successfully ran her own firm for 14 years before merging with Grant Thornton where she was Partner and Head of Tax in India. She has advised on inbound and outbound structuring (including regulatory compliance) for both Indian and overseas companies, as well as on re-structuring and mergers and acquisitions as well as trade sales.

Mr Richard Gubbins is a senior corporate partner of international law firm Ashurst in London. He leads one of Ashurst’s corporate groups and is head of the India practice. Richard advises domestic and overseas clients and governments, as well as investment banks and other financial institutions. He has wide experience of international corporate and commercial activities including fundraisings, flotations, domestic and cross-border mergers and acquisitions, reorganisations, restructurings, insolvency, commercial contracts and transactions involving a wide number of diversified industries in different jurisdictions.

Manjit Rajain, Executive Chairman, commented, “I am delighted that both Pallavi and Richard have joined the Board of Mortice. Their appointments help strengthen the Board as we seek to continue our growth strategy, particularly in an international context and their experience in cross-border enterprises will be invaluable to the company going forward. I would also like to thank Rakesh Aggarwal for his service to the Board and I would personally like to wish him all the best with his future ventures.”

About Mortice Limited

Mortice (AIM: MORT), is an AIM quoted security and facilities management company, incorporated in Singapore and based in India with additional operations in Singapore and the UK.

Mortice operates under two brands:

Peregrine – provision of guarding and security services to a wide range of clients from blue-chip companies, smaller businesses, commercial and private properties, and individuals.

Tenon – provision of a full range of facilities management services to corporate occupiers, owners and developers of real estate. Clients include some of the world’s most respected blue chip and home-grown companies. Within the Tenon group of companies Mortice also offers security surveillance services through its subsidiary Soteria and mechanical and engineering services via Rotopower

The business is growing and profitable and is focused on expanding its geographical footprint and growing through targeted acquisitions, as well as organically.

In 2015 the Company established Tenon UK and through this wholly owned subsidiary acquired UK based Office & General Group Limited, an independent property service company specialising in cleaning and providing support services such as environmental solutions and built fabric maintenance in the UK. In addition, the Company acquired a 51% majority stake in Singapore-based security company Frontline Security Pte. Ltd, and has an option to acquire an additional 25% within three years.

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